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Dec 27, 2012
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president obama and congress return to work today with little progress seen on a deal to avoid the fiscal cliff as the government starts taking steps to buy more time before the u.s. hits the debt ceiling. the yen hits a two-year low against the dollar as the new japanese government battles to weaken currency. exports are rising, pushing the nikkei to its strongest gain in 20 years. .shares of toyota are heading higher after the u.s. settled a class action lawsuit. the $1 billion payment is already priced in. okay. welcome to "worldwide exchange." plenty of news to watch out of washington. all of this week, we thought it would be a quiet one. but i won't be inside the beltway if they want to get something done. the u.s. will hit the $16.4 trillion debt ceiling come monday. in a letter to congressional leaders, geithner says treasury will begin taking steps to save the government about $2 billion. geithner says it's harder to predict a time frame because the ongone fiscal cliff talks make it difficult to forecast next year's budget. among the measures treasury will take including suspendin
president obama and congress return to work today with little progress seen on a deal to avoid the fiscal cliff as the government starts taking steps to buy more time before the u.s. hits the debt ceiling. the yen hits a two-year low against the dollar as the new japanese government battles to weaken currency. exports are rising, pushing the nikkei to its strongest gain in 20 years. .shares of toyota are heading higher after the u.s. settled a class action lawsuit. the $1 billion payment is...
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Dec 28, 2012
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obama leaves office. this is the time to deal with this issue. we've been kicking it down the road ten years. we promised the nation in 2011 under the budget deal with the sequesters we would not let this get away from us. we shouldn't this time. for mr. obama to suggest i've cut a trillion in spending because he saved money on the wars in afghanistan is gimmicks. they a work. >> i have to be honest, it's both sides. it strikes me these lawmakers on either side don't have a real fix to what we're looking at, the national debt, screaming out of control. we're going to exceed that limit on monday night. >> i wouldn't disagree but look at the facts. we did have a republican controlled congress that passed a bill. if reid didn't like the bill, let it go for debate. let his senate vote it down and say no, we're not going to accept these conditions. >> let me ask you this, then. interesting question. president obama gets his own deal, sends it over to the republicans, they have the same dilemma. >> well, they may. but i think you would at least see a f
obama leaves office. this is the time to deal with this issue. we've been kicking it down the road ten years. we promised the nation in 2011 under the budget deal with the sequesters we would not let this get away from us. we shouldn't this time. for mr. obama to suggest i've cut a trillion in spending because he saved money on the wars in afghanistan is gimmicks. they a work. >> i have to be honest, it's both sides. it strikes me these lawmakers on either side don't have a real fix to...
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Dec 28, 2012
12/12
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>> republicans anticipating or expecting president obama and democrats to offer a fiscal cliff deal, perhaps a scaled back proposal, but, still, no indication that's going to happen this afternoon. the senate is in session. the house returns sunday. they will take a vote sunday night on another piece of legislation. the senate has been working on other legislation, not related to the fiscal cliff, and that has some folks in washington speculating this afternoon's meeting in the white house is nothing but show. the one senior democrat says it is a serious effort. >> well, this is not for show, but a last ditch effort by the president to bring the congressional leaders together to try to get at least a small package, small deal together before the new year to avoid some of the tax parts of the fiscal cliff and the deal with some of the unemployment issues. >> now, that deal, the small deal that the congressman is talking about, speculation perhaps that includes a tax rate tax increase for families earning $500,000 a year, mid way point almost between what democrats and republicans had
>> republicans anticipating or expecting president obama and democrats to offer a fiscal cliff deal, perhaps a scaled back proposal, but, still, no indication that's going to happen this afternoon. the senate is in session. the house returns sunday. they will take a vote sunday night on another piece of legislation. the senate has been working on other legislation, not related to the fiscal cliff, and that has some folks in washington speculating this afternoon's meeting in the white...
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Dec 26, 2012
12/12
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president obama is coming back early as you mentioned, from his vacation in hawaii, but a senior white house official tells me they have seen no signs yet of progress toward a deal, so, everybody is going to have to wait for a couple of days. >> so, there's no indication at this point that there are any scheduled meetings tomorrow or anything to that effect, press conferences, news conferences to update the american people on what is going on in d.c.? >> everybody's got telephones, so, there's doubtless conversations going on. senate doesn't get back until late tomorrow. president gets back late tomorrow. the house is not back, but all of the leadership types, all the important players in any potential resolution of this are going to be in contact with one another and the likelihood that they will be in contact increases with every passing hour. >> john, stick around. i want to bring in anthony, who is on the desk here tonight. he was on the finance committee for mitt romney in his presidential bid. and what your sources are telling you is what in terms of if we reach a deal. >> i've t
president obama is coming back early as you mentioned, from his vacation in hawaii, but a senior white house official tells me they have seen no signs yet of progress toward a deal, so, everybody is going to have to wait for a couple of days. >> so, there's no indication at this point that there are any scheduled meetings tomorrow or anything to that effect, press conferences, news conferences to update the american people on what is going on in d.c.? >> everybody's got telephones,...
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Dec 27, 2012
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. >> brand new video of president obama visiting fires one and leaving hawaii with five days until we fall off that fiscal cliff. the president is cutting his vacation short to return to the white house and try to hammer out a deal. but what will actually happen if we do go over the cliff? doug luzader is live for us with the details. >> it is not going to be pretty. on board air force one heading back to washington from a hawaii after cutting christmas short. can a cup of coffee help as far as christmas is concerned. starbucks is hoping. if you go into a starbucks you will get a message written on your coffee that says come together. this is a company trying to tell the president and lawmakers here they need to come up with some kind of agreement before they go over the fiscal cliff at the end of the year. the senate will be meeting today. this is the first time we have seen legislative business conducted in the weeks between christmas and new years since 1970. the house come back as well but nothing yet. the other thing to consider here the two key players in all of this president o
. >> brand new video of president obama visiting fires one and leaving hawaii with five days until we fall off that fiscal cliff. the president is cutting his vacation short to return to the white house and try to hammer out a deal. but what will actually happen if we do go over the cliff? doug luzader is live for us with the details. >> it is not going to be pretty. on board air force one heading back to washington from a hawaii after cutting christmas short. can a cup of coffee...
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Dec 28, 2012
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, rich, there's talk of a scaled down deal put forth by the president. what have you heard? >> it that is the discussion. you have harry reid, mitch mcconnell arriving at the white house, should have house leadership shortly to begin a meeting, a last ditch effort to try to help the economy avoid the fiscal cliff, or at least pieces of it, and, yes, the buzz around washington is a possible path forward that aids describe as preventing tax increase for income amounts of $400,000 or $500,000 or so, extend unemployment insurance, but, still, nothing has been agreed to. all in washington are waiting to see how this meeting goes. it's just about to start here in dc. meanwhile, on capital hill, the fighting continues, and in some corners, a sense of pessimism. >> if we don't have a deal within the next 24 hours, the question is where do you buy a parachute? we'll be going over the cliff because the closer we get to the end, the less likely it is you can compress an agreement into place that will have enough votes to pass. >> this is basically it. the first tim
, rich, there's talk of a scaled down deal put forth by the president. what have you heard? >> it that is the discussion. you have harry reid, mitch mcconnell arriving at the white house, should have house leadership shortly to begin a meeting, a last ditch effort to try to help the economy avoid the fiscal cliff, or at least pieces of it, and, yes, the buzz around washington is a possible path forward that aids describe as preventing tax increase for income amounts of $400,000 or...
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Dec 27, 2012
12/12
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there are just five days remaining to strike a deal. we'll get to all that in a moment, but first, we begin with a massive winter storm that made holiday travel miserable for millions of americans, including me! winter storm euclid -- what, are we naming snowstorms now? euclid. you can lid? well, euclid blanketed much of the eastern half of the country yesterday, dropping blizzard-like conditions and record snowfall in the midwest, and by late afternoon, euclid moved northeast, bringing traffic to a standstill, forcing the cancellation of more than 1,500 flights on one of the busiest travel days of the year. the weather channel's mike seidel has more on the massive christmas storm. >> reporter: a major snowstorm has dumped over a foot of snow across parts of the midwest. indiana got hit hard. high winds adding to the misery there. >> it's a lot better with the four-wheel-drive, but it, yeah, it's definitely a doozy out there. >> reporter: and there's lots of snow in little rock, too. folks there had the snowiest christmas ever with nine
there are just five days remaining to strike a deal. we'll get to all that in a moment, but first, we begin with a massive winter storm that made holiday travel miserable for millions of americans, including me! winter storm euclid -- what, are we naming snowstorms now? euclid. you can lid? well, euclid blanketed much of the eastern half of the country yesterday, dropping blizzard-like conditions and record snowfall in the midwest, and by late afternoon, euclid moved northeast, bringing traffic...
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Dec 26, 2012
12/12
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. >>> first president obama cutting vacation short to deal with the dreaded fiscal cliff. with just six days until the deadline, some lawmakers say it might be too late. and that's next. so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. from the president cutting his holiday vacation in hawaii short to get back to work on avoiding the fiscal cliff. the white house says the president is set to return to the nation's capital tomorrow morning to try to hammer out a deal where lawmakers on stopping automatic tax hikes and deep spending cuts from kicking in, which is set to happen, if you're not watching the calendar, six days from now. if they don't reach a deal many say it could send the country right back into recession. ed hen
. >>> first president obama cutting vacation short to deal with the dreaded fiscal cliff. with just six days until the deadline, some lawmakers say it might be too late. and that's next. so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again?...
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Dec 27, 2012
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. >> all the big deal, boehner and obama tried to do last year, still have to do that, simpson boles-type thing. >> by what the secretary of the treasury said yesterday. >> right. >> thank you for being here. >> bromance. a lot of fun. make sure you join us tomorrow. "squawk on the street" begins right now. >>> good thursday morning, welcome to "squawk on the street" live from the new york stock exchange, i'm carl kin ten nia with melissa lee, cramer and neighborer are off today but we are joined by dennis. good morning to you dennis, thanks for coming in. futures today, a lot to deal with as you probably know. the fiscal cliff headline watch continues. you just heard john kanas say the market not too concerned. futures up 21 points. decent data out of europe, we will talk about in a minute what a day for the asian markets again. also coming up. our road map begins at andrews air force base where the president arrives in a couple of hours, cutting his hawaiian vacation short to address the fiscal cliff s there really any hope in the last attempt? does the market fade if there's no news to
. >> all the big deal, boehner and obama tried to do last year, still have to do that, simpson boles-type thing. >> by what the secretary of the treasury said yesterday. >> right. >> thank you for being here. >> bromance. a lot of fun. make sure you join us tomorrow. "squawk on the street" begins right now. >>> good thursday morning, welcome to "squawk on the street" live from the new york stock exchange, i'm carl kin ten nia with...
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i'm going to deal with obama i can't think of anybody because in america you know we have we have the a leg ocean and once the pacific ocean and the other side of mexico and canada we're so isolated you know it's not like paris where you know within fifteen hundred miles you get twenty three different countries and we're so isolated in america it was obama who took us through and held our hand and in the sandy hook i mean hurricane sandy and in newtown the president actually he actually brought us through that he held her hand and dragged us through and said it's going to be ok. and it was but what about social protests to mean we had the occupy movement ok do you see something like this you know coming back i mean because you kind of you went to alone this year. yeah they have vanished haven't yet which is really interesting in itself i think the point was made in you know in many ways including during the american presidential debate you know is it the forty seven percent or is it the the one percent it was interesting and i think the point was really made but at the end of the day
i'm going to deal with obama i can't think of anybody because in america you know we have we have the a leg ocean and once the pacific ocean and the other side of mexico and canada we're so isolated you know it's not like paris where you know within fifteen hundred miles you get twenty three different countries and we're so isolated in america it was obama who took us through and held our hand and in the sandy hook i mean hurricane sandy and in newtown the president actually he actually brought...
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Dec 27, 2012
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i think they have enormous incentive to deal right now because the poll numbers show that obama's numbers are gaining. democratic numbers are gaining. they're up in the 50s. republicans are down in the 20s and 30s. i think republicans lost the economic debate for now with democrats. i think there is lot of pressure on them to get this deal done soon and then, you know, we will start all over again because there will be a presidential budget in february and we'll be back at the table, negotiating this with the republicans right away. so it is just, should be seen as a little fiscal break or a fiscal, we'll come up with a better analogy but temporary stopgap measure what will then be, we're going to be starting this debate all over again in february. heather: mark, in terms of, you know, who the blame is placed upon and in terms of the public, poll after poll does show that they will blame republicans. is that a matter of messaging from republicans and what can they do, if anything, to change that? what have they done wrong? >> number one of the rasmussen poll today showed 44% would blame r
i think they have enormous incentive to deal right now because the poll numbers show that obama's numbers are gaining. democratic numbers are gaining. they're up in the 50s. republicans are down in the 20s and 30s. i think republicans lost the economic debate for now with democrats. i think there is lot of pressure on them to get this deal done soon and then, you know, we will start all over again because there will be a presidential budget in february and we'll be back at the table,...
WHUT (Howard University Television)
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Dec 28, 2012
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. >> now, president obama's been calling together key congressional leaders to come up with a deal to avoid a budget crisis at the good old fiscal cliff and tell us how they're going to get out of this, or not. >> i wouldn't be sitting here if i knew. i think there are a great deal of overlapping of what is required. the prb is it's not enough overlap. this fiscal cliff was last in august of 2011. it has to do with the debt ceiling. it so happens the debt ceiling will be reached on december 31, or will it? because it appears the treasury said we found a bit of extra money so maybe we can keep things going a bit longer. and it won't cause the crisis immediately, and if these tax rises and spending cuts came into effect, they could be repeeled during january. but if they weren't, the momentum that has been very painstaking pumped into the economy could be devastating. >> this morning you see stock markets in asia and europe up a bit. i think their expectation that washington will come to an agreement, i think that might be too early. i think this is still a very clear possibility that t
. >> now, president obama's been calling together key congressional leaders to come up with a deal to avoid a budget crisis at the good old fiscal cliff and tell us how they're going to get out of this, or not. >> i wouldn't be sitting here if i knew. i think there are a great deal of overlapping of what is required. the prb is it's not enough overlap. this fiscal cliff was last in august of 2011. it has to do with the debt ceiling. it so happens the debt ceiling will be reached on...
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Dec 27, 2012
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president obama comes back to washington to try to hammer out a deal with the senate, and we're hearing it may come down to the final minute of the year. >>> sticky gas pedals costing toyota $1 billion. the company's plan to put sudden acceleration allegations in their past and how you may we able to cash in on it even if you already sold your car. >>> a packed show ahead. congressman steven latourette of ohio, senator richard blumenthal of connecticut, plus the grinch. it's thursday, december 27th. "starting point" begins right now. >>> well, our starting point, a brutal winter storm battering the northeast and torturing holiday travelers all over the country. here it is on the radar. the system is expected to dump up to two feet of snow on central maine today. six states are under winter storm warnings, pennsylvania, new york, massachusetts, new hampshire, vermont, and of course maine. everyone there could see at least a foot of snow. more than 200,000 customers spanning several states are already without power. more than 1700 flights had to be cancelled yesterday, hundreds more have
president obama comes back to washington to try to hammer out a deal with the senate, and we're hearing it may come down to the final minute of the year. >>> sticky gas pedals costing toyota $1 billion. the company's plan to put sudden acceleration allegations in their past and how you may we able to cash in on it even if you already sold your car. >>> a packed show ahead. congressman steven latourette of ohio, senator richard blumenthal of connecticut, plus the grinch. it's...
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Dec 31, 2012
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. >> president obama said a deal is in sight and appeared at a campaign style event to remind everyone he is winning and g.o.p. is not. >> last month, republicans in congress said they would never agree to raise tax rates on the wealthiest americans. the agreement currently discussed would raise those rates, raise them permanently. >> republicans suggest the event may backfire to accuse the republican of rubbing their nose in defeat. >> the president won. we know that. he won fair and square. isn't it now time to govern? >> the president was out of line with his comments at 1:30 afternoon. this is a delegate time. i think the democrats would be embased after what the president did. >> after months of the president promising a balanced approach there are only tax hikes for rich without new spending cuts. today he hinted at more tax hikes ahead. warning republicans that the future deficit reduction will not come from cuts alone. >> if they think that is the formula for how we solve this thing, they have another thing coming. that is not how it will work. >> republicans fire back it's tim
. >> president obama said a deal is in sight and appeared at a campaign style event to remind everyone he is winning and g.o.p. is not. >> last month, republicans in congress said they would never agree to raise tax rates on the wealthiest americans. the agreement currently discussed would raise those rates, raise them permanently. >> republicans suggest the event may backfire to accuse the republican of rubbing their nose in defeat. >> the president won. we know that....
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Dec 30, 2012
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the deal they are talking about is identical to the deal president obama talked about the day after the election. the time in between has been wasted. guest: maybe they will be voting on a package academical -- the frustration is in your voice. i had a number of wall street clients. i can tell you from talking to them that there was a qualitative change in their tone and in their attitude about what was happening. host: you work as a financial communications and national director. that is with corvis communications. guest: thank you for mentioning that. clients of thought there was something going to happen. that has changed. my only question is, what took them so long? the signs have been there all year that a deal at the end of the year would be more difficult. host: while we're talking about what we do, explain what the concord coalition is. guest: we are nonpartisan coalition educating the public about this responsibility and our fiscal challenges. guest: if we go over the cliff, it is not the end of the discussion. it is important that people not lose hope or assume that what happe
the deal they are talking about is identical to the deal president obama talked about the day after the election. the time in between has been wasted. guest: maybe they will be voting on a package academical -- the frustration is in your voice. i had a number of wall street clients. i can tell you from talking to them that there was a qualitative change in their tone and in their attitude about what was happening. host: you work as a financial communications and national director. that is with...
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with painful austerity extreme weather headed self-help and obama reelected and there was no shortage of conflicts tragedies and misery around the world. to cross talk two thousand and twelve as it was i'm joined by john glaser in washington he's an assistant editor and blogger for antiwar dot com in san francisco we have will durst he is a political comic and syndicated columnist and in paris we cross the analysts a bit more he's a journalist and political commentator on cross talk rules in effect if you want to do this for this episode here. analysts say if i go to you first in paris if there is a hierarchy of events or ideas of the year that's about to end what would they be for you. well it's got to be the presidential election for us because that was really sort of the great thing marking the. political yeah and the fact that because you were sent home by the voters so i would say that's the biggest thing this year john how about you but because i was going to say to you do you think two thousand and twelve droned along. it did go along for a lot of unfortunate people in pakistan
with painful austerity extreme weather headed self-help and obama reelected and there was no shortage of conflicts tragedies and misery around the world. to cross talk two thousand and twelve as it was i'm joined by john glaser in washington he's an assistant editor and blogger for antiwar dot com in san francisco we have will durst he is a political comic and syndicated columnist and in paris we cross the analysts a bit more he's a journalist and political commentator on cross talk rules in...
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Dec 28, 2012
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barack obama scrambles to reach a deal on the national deficit. >> hello, you're watching "al jazeera" live from doha. here are the top stories now -- crisis in the central african republic. the president calls for international help to fight rebel forces. >> five years after bhutto's assassination. the son makes his debut. >> u.s. lawmakers give thems a last chance to stop the falling off the fiscal cliff. it's no deal has been actually reached. budget cuts and tax hikes will tax place on january the 1st. >> president barack obama returned to washington deeply meyered in another partisan stalemate. but over in the capitol the lower house of congress remains dark to avert the fiscal cliff. it's republican leader will call the session on sunday. the top senate said his branch of congress must take the initiative on a compromise. >> it appears to me the action if there is any is now on the senate and we will have to see if we're able on a bipartisan to move forward. >> but the democrats say there can be no deal without republican concessions on tax increases. >> unless we get a sign-off
barack obama scrambles to reach a deal on the national deficit. >> hello, you're watching "al jazeera" live from doha. here are the top stories now -- crisis in the central african republic. the president calls for international help to fight rebel forces. >> five years after bhutto's assassination. the son makes his debut. >> u.s. lawmakers give thems a last chance to stop the falling off the fiscal cliff. it's no deal has been actually reached. budget cuts and tax...
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they want a two-year deal because no one wants to keep running on this stuff. and most importantly, to president obama, he has a state of the union and an inauguration speech to give. he wants to work on his legacy, not on this. >> so what -- you just said that the republicans really did just play right into the hands of the democrats. is that what you said? >> well, i think they fumbled the ball a little bit in their negotiations. i think, for example, even the optics of it, having president obama back in washington today, and having congress still out, is not the right message to end. people right now feel that the republicans are the party of no, that they are the ones causing this, they are going to get blamed. the fact of the matter is, is that they are doing the fiscal responsible thing here and that's where they can hang their hat. is that they have to hold on for deficit spending, and they still have the debt ceiling to hold in their back pocket if they need to. >> so what would, if you had been advising boehner, what would you advise him to say yes to?
they want a two-year deal because no one wants to keep running on this stuff. and most importantly, to president obama, he has a state of the union and an inauguration speech to give. he wants to work on his legacy, not on this. >> so what -- you just said that the republicans really did just play right into the hands of the democrats. is that what you said? >> well, i think they fumbled the ball a little bit in their negotiations. i think, for example, even the optics of it, having...
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Dec 29, 2012
12/12
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president obama says that congress must act now to avoid economic disaster. he has been meeting with republican and democratic leaders to reach a deal to avoid tax hikes and spending cuts that take effect january 1. >> the hour-long meeting with president barack obama was the first face-to-face session together with both republican leaders of the latest fiscal crisis. obama said he was modestly optimistic about the agreement by senate leaders on a compromise bill that could be voted on by monday. that is just two days before 6 under billion dollars of automatic tax hikes and spending cuts begin to take effect -- $600 billion of automatic tax hikes and spending cuts take effect. >> we want to make sure that unemployment insurance is still available for 2 million people and lay the groundwork for additional deficit reduction and economic growth steps to take in the new year. but let's not miss this deadline. >> we are working hard to get there in the next 24 hours. i'm hopeful and optimistic. >> whenever we come up with will be imperfect. some people will not l
president obama says that congress must act now to avoid economic disaster. he has been meeting with republican and democratic leaders to reach a deal to avoid tax hikes and spending cuts that take effect january 1. >> the hour-long meeting with president barack obama was the first face-to-face session together with both republican leaders of the latest fiscal crisis. obama said he was modestly optimistic about the agreement by senate leaders on a compromise bill that could be voted on by...
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Dec 31, 2012
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on wall street today, investors bought up stocks on high hopes of deal, after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how e major averagesr closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books on 2012, washington still has a few hours to go before its new year's day fiscal cliff deadline. darren gersh has the latest. >> reporter: after a weekend of late-night negotiations with the vice presidt, senate republican leader mitch mcconnell said an agreement on the fiscal cliff was very, very close. >> we'll continue to work on finding smarter ways to cut spending, but let's not let that hold up protecting americans from the tax hike that will take place in about 10 hours. >> reporter: the deal would raise the top tax rate for individuals making more than $400,000 and couples with more than $450,000 in income. itemized deductions would be limited for individuals making more than $250,0
on wall street today, investors bought up stocks on high hopes of deal, after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how e major averagesr closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books on 2012, washington still has a few hours to go before its new year's day fiscal...
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even if we get a deal, what does this mean? it's a minimalist quick fix. it's not a debt and deficit grant grand bargain solution which obama and boehner were talking about weeks ago and it's probably not going to involve solving the debt ceiling problem. and, of course, we all saw what happened 18 months ago over the debt ceiling. it dragged on and on. bottom line, whatever happens in the next few days, markets, corporate america and consumers in america are probably going to have to deal with continued fiscal wrangling' in washington for weeks and weeks and weeks. >> we're going to talk more about the fiscal cliff and later on in the show. just coming back to europe for a second or touching on europe -- >> even more boring. >> because i'm quite looking forward to next year and i'm looking forward to hoping that we're not going to be sitting on politicians the same way we have over the last year, two years, looking at every single line that comes out of therefore mouths. i'm hoping we're going to see march of a sense of normality coming back into the euro
even if we get a deal, what does this mean? it's a minimalist quick fix. it's not a debt and deficit grant grand bargain solution which obama and boehner were talking about weeks ago and it's probably not going to involve solving the debt ceiling problem. and, of course, we all saw what happened 18 months ago over the debt ceiling. it dragged on and on. bottom line, whatever happens in the next few days, markets, corporate america and consumers in america are probably going to have to deal with...
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on wall street today, investors bought up stocks on high hopes of deal after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how the major averages closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books on 2012, washington still has a few hours to go before its new year's day fiscal cliff deadline. darren gersh has the latest. >> reporter: after a weekend of late-night negotiations with the vice president, senate republican leader mitch mcconnell said an agreement on the fiscal cliff was very, very close. >> we'll continue to work on finding smarter ways to cut spending, but let's not let that hold up protecting americans from the tax hike that will take place in about 10 hours. >> reporter: the deal would raise the top tax rate for individuals making more than $400,000 and couples with more than $450,000 in income. itemized deductions would be limited for individuals making more than $25
on wall street today, investors bought up stocks on high hopes of deal after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how the major averages closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books on 2012, washington still has a few hours to go before its new year's day fiscal...
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Dec 27, 2012
12/12
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she said let's make a deal. her prediction, probably the right one, they're going to go home. suddenly once it passes, obama wim introduce his own package which will look like what he's proposing now, and they'll have nothing to do but accept it or else they'll get blamed for everything. >> can you recall a time in your life when you were aware of politics that encompasses, what, a couple of years, at least? a comparable level of incompetence in washington? >> the only thing i can think of is the last four years. i actually spent some of the time over the holidays for my sins reading bob woodward's book. and my overall reaction to all this is groundhog day. it's the same exact issues, some of the same players, same cautions of spending, entitlements, taxation, debt celling, what have you, nothing has changed. so what's so depressing to me is we've had four years or longer to wrestle with these issues. there's virtually been no signs on progress. here we are now with two more self-imposed ceilings. and increasingly, we've got a u.s. government that sticks a gun to its head. sor
she said let's make a deal. her prediction, probably the right one, they're going to go home. suddenly once it passes, obama wim introduce his own package which will look like what he's proposing now, and they'll have nothing to do but accept it or else they'll get blamed for everything. >> can you recall a time in your life when you were aware of politics that encompasses, what, a couple of years, at least? a comparable level of incompetence in washington? >> the only thing i can...
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Dec 29, 2012
12/12
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. >> and military to deal with. >> if there's a theme to what we're saying, the united states has to play an active leadership role rather than passive leadership role. if the united states is passive and barack obama to a certain extent, represents democratic ideas na it should be more passive, this is the kind of world that results. i think places like egypt and syria were looking to the united states at least to have a presence in the transition, but we have not and we're seeing the results. >> paul: where do you think, other than -- where are the potential flash points in this coming year? >> liook, there are many. one of them, we don't talk about europe enough. the crisis in europe is going to get dramatically worse in portugal, spain, italy. there is dysfunction in the european union. that's one place to look. that's going to encourage russia to make moves of its own, you mentioned south africa. south africa is not going in a good direction, it's supposed to be the most optimistic spot on the african continent. so i don't see many bright spots, maybe new zealand, but some say t
. >> and military to deal with. >> if there's a theme to what we're saying, the united states has to play an active leadership role rather than passive leadership role. if the united states is passive and barack obama to a certain extent, represents democratic ideas na it should be more passive, this is the kind of world that results. i think places like egypt and syria were looking to the united states at least to have a presence in the transition, but we have not and we're seeing...
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for saturday barack obama is already considering an emergency bill from the werner's and unemployed if agreement is not reached before the deadline. the six men involved in the gang rape of a student in india have been charged with murder just hours after their victim died in hospital if convicted all could face the death penalty because sparked protests in new delhi with the authorities resorting to banning mass gatherings in parts of the city people still joining to express their anger while demanding extreme measures to keep the streets safe. the fans the newly elected prime minister has taken a tour of the fukushima nuclear plant which was devastated by a massive tsunami last year during a protective suit action is or are being inspected the complex admitted that dealing with the fallout is an unprecedented challenge the previous democrat led government plan to scrap the use of nuclear power. they will participate in to reverse that decision. just a few days there for you to come up with your new year resolutions for twenty thirty forty years that resident is in new york to find
for saturday barack obama is already considering an emergency bill from the werner's and unemployed if agreement is not reached before the deadline. the six men involved in the gang rape of a student in india have been charged with murder just hours after their victim died in hospital if convicted all could face the death penalty because sparked protests in new delhi with the authorities resorting to banning mass gatherings in parts of the city people still joining to express their anger while...
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Dec 24, 2012
12/12
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FBC
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lori: is there any hope for a deal? are you the last man there? >> a staff is here. the staff is in this but all eyes are on the senate when it returns this thursday to try and get a deal to avoid getting off a cliff the past friday before the president left for the holiday, he proposed a limited measure to avoid all of the cliff when speaker john boehner plan b. got scuttled. the president wants to extend the bush tax cuts and avoid some of the deep spending cuts. white house spokesperson says discussions continue between the administration and capitol hill. in july you may recall senate democrats passed an extension of the middle-class tax codes for the year. those folks making less than $250,000 per year at a cost of 157 billion. also passing the alternative minimum tax for $92 billion. mitch mcconnell is critical to hammering out a deal because he can filibuster any legislation, but his spokesman told me this morning nothing new to report. we don't know what senator reid plans to bring to the senate for a vote. >> truth of the matter is if we do fall off the clif
lori: is there any hope for a deal? are you the last man there? >> a staff is here. the staff is in this but all eyes are on the senate when it returns this thursday to try and get a deal to avoid getting off a cliff the past friday before the president left for the holiday, he proposed a limited measure to avoid all of the cliff when speaker john boehner plan b. got scuttled. the president wants to extend the bush tax cuts and avoid some of the deep spending cuts. white house...
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Jan 1, 2013
01/13
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the accusation was always made that all this stuff was an attempt to discredit liberalism and the new deal and we now have in our own time we heard it said not since obama was in office, dissidence is the highest form of patriotism. i don't buy that. i don't buy it at all. of course the democrats no longer say that. i hardly dared tell you where i would draw the line. federal marshals will materialize out of the walls, and lock me up immediately. i was delicately suggesting that even whitaker chambers, who was a great man and "witness" is a great book, but whitaker chambers fell into the misguided view of america that was prevalent, not so prevalent but always existed on the right. understanding of the precious value and virtues of the society, even now. and denigrating it which is quite consistently, and he saw a lot in common between chambers and canon, i have been rereading "witness" and i said to my wife last night chambers has a lot in common with george kennedy. when i said this, they were deeply patriotic. i said no they weren't. i don't think they were traitors or anybody, and the
the accusation was always made that all this stuff was an attempt to discredit liberalism and the new deal and we now have in our own time we heard it said not since obama was in office, dissidence is the highest form of patriotism. i don't buy that. i don't buy it at all. of course the democrats no longer say that. i hardly dared tell you where i would draw the line. federal marshals will materialize out of the walls, and lock me up immediately. i was delicately suggesting that even whitaker...
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Dec 29, 2012
12/12
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coming up, president obama pushing congressional leaders to strike a fiscal cliff deal before it's too late. so far, though, neither side have put forward a deal that will pass both houses. so what will it take to get members lined up behind a yes vote, kelly? >> kelly: might be a prayer. >> heather: do you have a plan? >> kelly: how about a prayer. and before you count down to 2013, you may want to break out some champagne and st. sparkling wine. "consumer reports" is here with the best bubbly for your buck with the spark miles card from capital one, thor gets great rewards for his small business! your boa! [ garth ] thor's small business earns double miles on every purchase, every day! ahh, the new fabrics. put it on my spark card. ow. [ garth ] why settle for less? the spiked heels are working. wait! [ garth ] great businesses deserve great rewards. [ male announcer ] the spark business card from capital one. choose unlimited rewards with double miles or 2% cash back on every purchase, every day! what's in your wallet? [ cheers and applause ] a body at rest tends to stay at rest...
coming up, president obama pushing congressional leaders to strike a fiscal cliff deal before it's too late. so far, though, neither side have put forward a deal that will pass both houses. so what will it take to get members lined up behind a yes vote, kelly? >> kelly: might be a prayer. >> heather: do you have a plan? >> kelly: how about a prayer. and before you count down to 2013, you may want to break out some champagne and st. sparkling wine. "consumer reports"...
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Dec 31, 2012
12/12
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>> barack obama calls for compromise as the u.s. approaches the brink of another economic crisis. in a rare appearance on a u.s. talk show he appealed to congress to make a deal to avoid tipping the country into recession. you're watching al-jazeera live from london. also coming up, 21 policemen are buried in pakistan after being kidnap and shot by the taliban. anger and grief in india. candlelit vigils continue as the 22-year-old gang rape victim is cremated. plus moments of impact -- amateur video captures a russian plane after it overshoots a runway and crashes into a motorway. hello, president obama has made another appeal to the u.s. congress to reach an agreement in the next 48 hours to avoid the so-called fiscal cliff. it's a term used to describe the expiry of tax cuts dating back to 2001. if there is no deal, 88% of americans will end up paying $400 billion more in 2014. that will be coupled with more than a trillion dollars in automatic government spending cuts. according to the congressional budget office it will start with $200 billion in military and social welfare cu
>> barack obama calls for compromise as the u.s. approaches the brink of another economic crisis. in a rare appearance on a u.s. talk show he appealed to congress to make a deal to avoid tipping the country into recession. you're watching al-jazeera live from london. also coming up, 21 policemen are buried in pakistan after being kidnap and shot by the taliban. anger and grief in india. candlelit vigils continue as the 22-year-old gang rape victim is cremated. plus moments of impact --...
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tomorrow first day this week about this but a lot of talk about it for a long time and how much of a deal is it really it could be huge deal could lead to the u.s. g.d.p. going down three percentage points could go down back into recession and for the biggest economy in the world that means trouble for everyone else big question is can they get it sorted in time or what we're talking about like that i guess exactly in a couple of minutes. i got. in this remote siberians in which people still sing the songs which russians sang in the middle ages and they cherish the nation rituals practiced by the will set up church before the seventeenth century the old believers here is sign the area our conservative community here known as the simi skia a word which refers to family. of god believe me there yet i feel. that i now am the first athlete that. people here are happy to show their way of life to tourists and teach them how to dance in the local star. the ease of prayer and the bell and the girl needs to watch her legs don't go up too much during the dance she must be a model stick at. a. seve
tomorrow first day this week about this but a lot of talk about it for a long time and how much of a deal is it really it could be huge deal could lead to the u.s. g.d.p. going down three percentage points could go down back into recession and for the biggest economy in the world that means trouble for everyone else big question is can they get it sorted in time or what we're talking about like that i guess exactly in a couple of minutes. i got. in this remote siberians in which people still...
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Dec 29, 2012
12/12
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KQED
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president obama says he's "modestly optimistic" a fiscal deal can be reached in time. he said he's instructed senator harry reid and senator mitch mcconnell to come up with a plan that can pass in congress. his brief comments a short while ago came after a whit
president obama says he's "modestly optimistic" a fiscal deal can be reached in time. he said he's instructed senator harry reid and senator mitch mcconnell to come up with a plan that can pass in congress. his brief comments a short while ago came after a whit
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Dec 24, 2012
12/12
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we have seen in the past that obama had to cut a deal in order to get those extensions. host: what specific benefits to these programs provide? guest: the usual weekly cash payout is about $300 a week. sometimes it can vary. in mississippi i want to say it is closer to do hundred dollars. host: how are the programs usually bonded? guest: there funded by payroll taxes. the state administers the programs and the money goes to the unemployed. host: talk about what qualifications people have to meet in order to apply. guest: generally you have to have basically a year of earnings. the earnings have to be a certain threshold. you have to have been let go from a job. it is not like you can just wore mauve and a cloud of anger and qualify for benefits. if you have been working at the mill 14 years, and lose your job and a layoff, it is pretty easy to get benefits. host: we have some of those qualifications a person must meet on the screen there. for people who have lost the job of no fault of their own, explain what that means. guest: you have to be laid off, and there is a dif
we have seen in the past that obama had to cut a deal in order to get those extensions. host: what specific benefits to these programs provide? guest: the usual weekly cash payout is about $300 a week. sometimes it can vary. in mississippi i want to say it is closer to do hundred dollars. host: how are the programs usually bonded? guest: there funded by payroll taxes. the state administers the programs and the money goes to the unemployed. host: talk about what qualifications people have to...
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hosting another last minute meeting for weeks republicans and democrats have been trying to reach a deal on how to reduce the deficit if they don't though billions of dollars in tax hikes come into effect on january the first a journalist on the bar says it's not the deadlock that's the worry but rather what's already been agreed upon. the real problem in my eyes is not the fact that they can't reach an agreement but rather that they have reached an agreement on many fundamental things the grievance they have reached is that neither of them are going to advocate so put more money in the hands of working people they have no problem whatsoever removing a trillion dollars or two trillion dollars from the economy and delivering it to the bankers they did that inside of twenty days back in two thousand and eight and again in two thousand and nine was very little discussion. everyone agrees on both sides of the aisle that sums sort of the reduction in benefits from social security and medicare is inevitable quote unquote well you know the rest of us don't believe that it's inevitable or even t
hosting another last minute meeting for weeks republicans and democrats have been trying to reach a deal on how to reduce the deficit if they don't though billions of dollars in tax hikes come into effect on january the first a journalist on the bar says it's not the deadlock that's the worry but rather what's already been agreed upon. the real problem in my eyes is not the fact that they can't reach an agreement but rather that they have reached an agreement on many fundamental things the...
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is sliding ever closer to what has become known as the fiscal cliff with barack obama hosting another last minute emergency meeting on today for weeks the republicans and democrats have been trying to reach a deal on how to reduce the national deficit if they don't billions of dollars in tax hikes and spending cuts automatically come into effect on january the first activist and journalist says it's not the deadlock that bothers him but what has already been agreed upon. the real problem in my eyes is not the fact that they can't reach an agreement but rather that they have reached an agreement on many fundamental things the grievance they have reached is that neither of them are going to advocate to put more money in the hands of working people they have no problem whatsoever removing a trillion dollars or two trillion dollars from the economy and delivering it to the bankers they did that inside of twenty days back in two thousand and eight and again in two thousand and nine with very little discussion. everyone agrees on both sides of the aisle that sums sort of reduction in benefi
is sliding ever closer to what has become known as the fiscal cliff with barack obama hosting another last minute emergency meeting on today for weeks the republicans and democrats have been trying to reach a deal on how to reduce the national deficit if they don't billions of dollars in tax hikes and spending cuts automatically come into effect on january the first activist and journalist says it's not the deadlock that bothers him but what has already been agreed upon. the real problem in my...
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Dec 31, 2012
12/12
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of the country that does not support the way that obama would like to deal with this problem. stuart: look how it's been presented in the establishment media. president obama cutting short his holiday vacation, returning to washington trying to fix the fiscal mess. thank you very much, mr. president. mr. boehner, speaker boehner, oh, he finally gets the house back in session on sunday night. and then we have some democrats saying, why don't these republicans quit defending their millionaire pals. the way it's presented in the establishment media is highly pejorative against republicans and yet, republicans, as we heard from the rasmussen poll, they're not getting all of the blame. it's 44-36 that's where it is, again, that surprises me. >> those headlines are great. the next time i'm on deadline and i have a story to write. because i've left it to the last minute and i have to cancel a movie i think i'm going to, you know, complain about it and say, oh, finally, i'm getting back into the work session here. no, i mean, it's ridiculous. now, the republicans, i think, are doing o
of the country that does not support the way that obama would like to deal with this problem. stuart: look how it's been presented in the establishment media. president obama cutting short his holiday vacation, returning to washington trying to fix the fiscal mess. thank you very much, mr. president. mr. boehner, speaker boehner, oh, he finally gets the house back in session on sunday night. and then we have some democrats saying, why don't these republicans quit defending their millionaire...
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Dec 31, 2012
12/12
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>> melissa, we're hearing signs of optimism about a potential deal. somewhere with an income tax threshold in the $400,000 to $500,000 range, not the $250,000 that president obama had been insisting on. although a source familiar with the talks told me a few minutes ago, if it goes between 400 and 500, democrats would get the full increase to 39.6. that is the clinton era rate, extension of unemployment benefits and increase in the estate tax. still the signs are that something is going to happen. in fact, bob corker, the senator from tennessee, was on with joe and i here from washington on "squawk box" and said there will be a deal, even if one that doesn't solve all of our long-term debt and deficit problems. here's bob corker. >> i do think there's going to be a resolve to this. the problem is, you know, we created this fiscal cliff to make some tough decisions. and none are going to be made. not one. >> so the question is going to be then, do the tough decisions on spending get made in january and february, running up to the debt limit. we'll see
>> melissa, we're hearing signs of optimism about a potential deal. somewhere with an income tax threshold in the $400,000 to $500,000 range, not the $250,000 that president obama had been insisting on. although a source familiar with the talks told me a few minutes ago, if it goes between 400 and 500, democrats would get the full increase to 39.6. that is the clinton era rate, extension of unemployment benefits and increase in the estate tax. still the signs are that something is going...
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Dec 30, 2012
12/12
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we're dealing with tens of trillions of dollars in unfunded liabilities, in four years obama has done nothing on entitlement reform. nothing for four years. what has he done? chirped about raising taxes on rich people. raising taxes on rich people is what obama talks about instead of doing his job. there are two costs to this. one, if you take money out of savings and investment, which is what you're doing with this, it doesn't help, it reduces the incentives to save, invest and work and the other thing you do is you never get to reform government entitlements. >> that's not causal. >> it is, absolutely. >> that's not really. >> you live in new york i live in d.c., washington, this is all causal. the reason he's talking about tax increases is to avoid the conversation and dealing with spending restraints. that's why obama does what he does. >> the reason i doubt that, grover, is because we've all done the math and we all absolutely agree on the math that you can't get out of the deficit hole we're in by taxing rich people even if you tax them at 100%. everybody know knows that. so whe
we're dealing with tens of trillions of dollars in unfunded liabilities, in four years obama has done nothing on entitlement reform. nothing for four years. what has he done? chirped about raising taxes on rich people. raising taxes on rich people is what obama talks about instead of doing his job. there are two costs to this. one, if you take money out of savings and investment, which is what you're doing with this, it doesn't help, it reduces the incentives to save, invest and work and the...
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with painful austerity extreme weather had itself felt and obama reelected and there was no shortage of conflicts tragedies and misery around the world. to cross talk two thousand and twelve as it was i'm joined by john glaser in washington he's an assistant editor and blogger for antiwar dot com and so.
with painful austerity extreme weather had itself felt and obama reelected and there was no shortage of conflicts tragedies and misery around the world. to cross talk two thousand and twelve as it was i'm joined by john glaser in washington he's an assistant editor and blogger for antiwar dot com and so.